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Moat
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Moat
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“What Warren Buffett calls a moat, something that protects the company from competition and allows it to earn above average returns on capital for long periods.”
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“This is what Warren Buffett calls a moat. That moat could be a powerful brand, a massive consumer base, or a cost advantage.”
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“The real moat is just a sequence of smaller moes stacked together.”
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